Intimation of Book Closure, Cut-off Date and E-Voting for the purpose of 52nd Annual General Meeting
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Garg Furnace Ltd has called its 52nd Annual General Meeting for Monday, September 15, 2025 at 11:00 A.M. at its registered office in Ludhiana. The Register of Members and Share Transfer Books will be closed from Tuesday, September 8, 2025 to Monday, September 15, 2025 (both days inclusive). The cut-off date for e-voting eligibility is September 8, 2025, with remote e-voting open from September 12 (9:00 AM) to September 14, 2025 (5:00 PM) via CDSL. Key items to be approved at the AGM include re-appointment of Statutory Auditor M/s Ashwani & Associates for another 5-year term (FY 2025-26 to 2029-30) at a proposed audit fee of Rs. 4,50,000 for FY 2025-26, appointment of M/s PDM & Associates as Secretarial Auditor for 5 years, and ratification of Cost Auditor remuneration of Rs. 20,000. A significant item is the approval of Material Related Party Transactions, including transactions worth up to Rs. 150 crore with promoter group company Vaneera Industries Limited for purchase/sale of goods, rent, and lease of machinery for FY 2024-25, plus up to Rs. 1 crore each with the three promoter directors (Devinder Garg, Vaneera Garg, and Toshak Garg). Shareholders will also vote on appointing Mrs. Mehak Jain as Independent Director for a 5-year term.
Shareholders of record on September 8, 2025 are eligible to vote. The Rs. 150 crore related party transaction cap with promoter group entity Vaneera Industries is large relative to the company and warrants shareholder attention. Book closure means no share transfers will be processed during that window.